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MLex Market Insight

Saputo, Murray Goulburn deal plots tricky Australian regulatory path

MLex Market Insight

MLex Market Insight

News

4.99 Ratings

🗓️ 16 February 2018

⏱️ 12 minutes

🧾️ Download transcript

Summary

Canadian dairy giant Saputo is aiming to acquire ailing Australian milk producer Murray Goulburn Co-operative for AUD $1.3 billion ($1 billion), with Australia’s competition regulator set to decide on the acquisition on March 1. But the deal is not without its regulatory challenges, as MLex’s managing editor for Australasia, James Panichi, and Senior Correspondent Laurel Henning discuss.

Transcript

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0:00.0

Hello and welcome to another Emlex podcast. I'm Laurel Henning, senior correspondent at Emlex,

0:18.2

and while it's still dark this morning in Brussels, joining me from the other

0:21.6

side of the world in Melbourne is James Panicki, managing editor for Australasia. Hello James.

0:27.9

Hello, Laurel, great talking to you. James, this is a recent move that you've undertaken from

0:32.6

Brussels where you were the managing editor of our bureau here and it's part of a new exciting project

0:37.4

for Emlax. So tell us a bit about what you'll be working on in Australia. Yes, there's the managing editor of our bureau here and it's part of a new exciting project for

0:37.6

Emlax so tell us a bit about what you'll be working on in Australia.

0:40.3

Yes that's right it's really a move to boost our Asian coverage so I'm based here in

0:47.0

Melbourne on the 13th floor of the Lexis Nexus building and the city centre. I'll be

0:53.7

overseeing regulatory coverage of Australasia.

0:58.0

Now, what we mean by Australasia is essentially Australia, New Zealand, and those parts of the

1:03.3

South Pacific where there's an independent competition regulator that's up and running at the moment.

1:08.9

And at last count, that was Fiji, Papua New Guinea,

1:13.2

French Polynesia, and as of this very week, in fact, also New Caledonia. And so essentially that,

1:20.3

I mean, it sounds exotic, but that is my new, that's my new life. And I'm enjoying some sunshine

1:26.6

after this year's particularly long and cold winter

1:30.8

in Brussels, which I assume is continuing undeterred at the moment.

1:35.3

Yeah, I did think of you as I walked to work this morning, hood up, hat on, gloves on.

1:39.3

Okay, so apart from letting our readers and listeners know what's to come out of Australia soon, we wanted today to give an update on a story you've been working on since actually early November

1:50.0

concerning an acquisition in the dairy industry.

1:52.0

The companies in question here are Canadian dairy giant Saputo,

1:56.0

which has actually had a market presence in Australia for several years now,

...

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